Port upbeat despite client loss

By Yoke Har Lee

Ports of Auckland's cargo throughput rose 3 per cent in the first quarter (July-September) compared to the same period a year ago despite competition from the Port of Tauranga, says chief executive Geoff Vazey.

Container volumes dipped one per cent as a major client, ANZDL, moved its port of call to Tauranga's Metroport.

ANZDL accounted for about 10 per cent of Auckland's container volume.

Breakbulk volumes rose 14 per cent although there was a dip in the number of cars being imported. Car volumes are, however, picking up pre-Christmas.

The port, by focusing on costs, has achieved progress in its operations, Mr Vazey said. "And I would even go so far as to say that the company is more profitable now than it was a year ago," he told shareholders at the company's annual meeting yesterday.

Mr Vazey was confident about the port's outlook for the coming year despite a challenging market.

There was also some economic uncertainty associated with the forthcoming general election, he said.

But over the longer term, the port expected the economy to achieve positive growth.

Chairman Sir Richard Carter told shareholders that the company would be seeking compensation for the $2.2 million it paid for Half Moon Bay's marina assets which it had been told to return to Manukau City Council in July this year.

The marina was among the assets bought from the Auckland Harbour Board in 1988.

A series of protracted courtroom tussles followed. The Privy Council in July upheld an earlier court judgment that the marina was not part of the assets of the port.

Sir Richard said the port was now negotiating with Infrastructure Auckland, the successor of the Auckland Harbour Board, to reach an acceptable settlement.